South Korea was the only G-20 country that did not suffer the 2008 recession. They had a one-quarter GDP dip in 2009.
Did you not read the graph? KOREA DID NOT HAVE A RECESSION. They never had two quarters of negative GDP. They needed no stimulus because they didn't have a recession. They had no mortgage bubble or a bank collapse or big job losses. They just had some market losses that rebounded quickly since their economy only had a slight dip, requiring no stimulus by their government.
What exactly are you arguing? Isn't "not recessing" better than "recessing"? The reason they made out so well is because their economy is free. The government there doesn't prop up certain companies at the expense of others. They don't inflate industries with cash for clunkers and other wasteful programs. South Korea and Japan went through these structural balance sheet sheet recessions in the 90s. Japan stimulated and has had 2 lost decades. South Korea let the market dictate the recovey and has had 2 decades of robust growth. They are the model for economic success. No stimulus.
Against your claim South Korea came out of the recession better because they did not use a stimulus. The fact is that they never were in a recession, making all the rest of your point moot.
I believe his point was that the South Korea Government stays out of their FREE market and thus being a major reason for no recession and growth.
